DWS has appointed Blackstone veteran Paul Kelly as global head of its €126bn alternatives business to boost the strategic growth of the franchise, based in New York.
From February 2023, Kelly will be responsible for delivering a cohesive cross-product global strategy, as well as accelerating the expansion of the business both organically and inorganically. All alternatives investment businesses within the firm, which span real estate, infrastructure and liquid real assets, will report into Kelly, while he will report directly into DWS CEO Stefan Hoops. Kelly will join the company after nearly four years at Blackstone, where he was a senior managing director and chief operating officer of the credit division, working across direct lending, insura...
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